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Study Hall: HOW TO PURCHASE A CAR IN YOUR BUSINESS NAME · Earn Your Leisure

• 0:00
  Speaker 1: Coach, the energy out there felt different. What changed for
• 0:03
  Speaker 1: the team today?
• 0:03
  Speaker 2: It was a new game day scratches from the California
• 0:06
  Speaker 2: Lottery Player is everything. Those games sent the team's energy
• 0:09
  Speaker 2: through the roof.
• 0:09
  Speaker 1: Are you saying it was the off field play that
• 0:11
  Speaker 1: made the difference on the field.
• 0:13
  Speaker 2: Hey, little play makes your day, and today it made
• 0:15
  Speaker 2: the game. That's all for now, Coach.
• 0:18
  Speaker 3: One more question play than New Los Angeles Chargers, San
• 0:20
  Speaker 3: Francisco forty nine Ers and Los Angeles Ram Scratchers from
• 0:23
  Speaker 3: the California Lottery. A little play can make your day.
• 0:27
  Speaker 3: Peace made responsibily. Must be eighteen years or older to
• 0:29
  Speaker 3: purchase late or claim.
• 0:30
  Speaker 4: Let's let's let's get into it, miss business.
• 0:32
  Speaker 5: So we the first thing I want to telk you
• 0:34
  Speaker 5: about few different things as far as tax plan is concerned.
• 0:37
  Speaker 5: But the first thing that we did well, not the
• 0:40
  Speaker 5: first thing that we did, but the thing that I
• 0:41
  Speaker 5: want to talk about first is the cars, cause you know,
• 0:45
  Speaker 5: it's one of these things that gets people's attention and
• 0:48
  Speaker 5: everybody has an opinion on it, and it's like but
• 0:51
  Speaker 5: you know, like I said, everything that we do we
• 0:53
  Speaker 5: do responsibly, and everything that we do we share with
• 0:55
  Speaker 5: the public. So you know, we when we was purchasing
• 0:58
  Speaker 5: our cars and shout out to you, because she was
• 1:00
  Speaker 5: the first person to really because I had never put
• 1:02
  Speaker 5: a car on a business name before. I always used
• 1:04
  Speaker 5: to just you know, buy my car at least my cars,
• 1:06
  Speaker 5: and put it on my own personal name.
• 1:08
  Speaker 6: And I never even had the opportunity.
• 1:10
  Speaker 5: You can I say, well, I can say what kind
• 1:11
  Speaker 5: of car you got? You got the G Wagon?
• 1:14
  Speaker 7: You GOTG Yeah, this business got the g Wagon, big boy,
• 1:19
  Speaker 7: big body, the.
• 1:21
  Speaker 6: G AMG G sixty three, sixty three.
• 1:25
  Speaker 4: He's sixty three. That's what you have been saying.
• 1:27
  Speaker 6: I mean, I like, c he ain't rolling like that. Man,
• 1:31
  Speaker 6: you might need to find a new one.
• 1:33
  Speaker 4: G sixty three, that's what. That's a fact, man, spicy.
• 1:38
  Speaker 5: So when when I was talking to her and she
• 1:41
  Speaker 5: gave me some games, She's like, yeah, you know, I
• 1:43
  Speaker 5: put it under my business account and she kind of
• 1:46
  Speaker 5: like gave me the knowledge on it. So I'm like,
• 1:49
  Speaker 5: all right, well I'm gonna get a car, so I
• 1:50
  Speaker 5: might as well do the same thing. And it was
• 1:52
  Speaker 5: a lot easier than I thought it was gonna be,
• 1:55
  Speaker 5: Like it literally took me five minutes. And the dope
• 1:58
  Speaker 5: part for me, is that my base my bank that
• 2:01
  Speaker 5: I'm getting the financing through is Chase, and I bank
• 2:04
  Speaker 5: would Chase. So on the app it has like my
• 2:06
  Speaker 5: car payment thing right there, and it's like all I
• 2:09
  Speaker 5: gotta do is just open my Chase app and it's
• 2:12
  Speaker 5: just automatic for the car payment, straight from the straight
• 2:15
  Speaker 5: from the straight from the business account. So let's talk
• 2:19
  Speaker 5: about it. Let's talk about it. So there's two ways
• 2:21
  Speaker 5: that you can that you can accomplish this, right. Well,
• 2:23
  Speaker 5: first let's talk about the six thousand pound UL because
• 2:26
  Speaker 5: a lot of people was asking about the six thousand
• 2:28
  Speaker 5: pound RUL. They thought that that's what it was. Because
• 2:31
  Speaker 5: if you're not familiar, well, I'll let you, I'll I'll
• 2:33
  Speaker 5: They say, I talk too much, You're explain, you explaining
• 2:36
  Speaker 5: the six thousand.
• 2:36
  Speaker 8: You're so smart that you can't help it. You can't
• 2:41
  Speaker 8: help it, all right, So let's talk about vehicles, right,
• 2:44
  Speaker 8: So you have you have your standard vehicles, right, Most
• 2:48
  Speaker 8: vehicles like even rain drovers, g wagons, they fall a
• 2:52
  Speaker 8: little under six thousand pounds. But for the most part,
• 2:55
  Speaker 8: all vehicles fall under about six thousand pounds. And if
• 3:00
  Speaker 8: you do, and we'll talk, and I also want to
• 3:02
  Speaker 8: talk about the different ways you can go about purchasing
• 3:06
  Speaker 8: your vehicle.
• 3:06
  Speaker 9: Right, So, you have your finance and then you have
• 3:09
  Speaker 9: your lease in, or you can pick the mileage method. Right,
• 3:12
  Speaker 9: most people are very familiar with the mileage method. However,
• 3:15
  Speaker 9: when you finance your car, it when you could pretty
• 3:19
  Speaker 9: much purchase your vehicle. It sits as an asset in
• 3:22
  Speaker 9: your business. Right, So when it sits as an asset
• 3:24
  Speaker 9: in your business, anytime you have any type of assets,
• 3:28
  Speaker 9: you get to depreciate them. So when you are depreciating
• 3:32
  Speaker 9: your vehicles, there are certain timeframes in terms of years
• 3:36
  Speaker 9: that you get to depreciate it over. So for anyone
• 3:39
  Speaker 9: that isn't familiar when you depreciate any sort of asset,
• 3:43
  Speaker 9: what you're doing is you are you're pretty much allocating
• 3:48
  Speaker 9: the cost of whatever asset you acquire, and you are
• 3:52
  Speaker 9: writing it off over time. Right, So with a vehicle,
• 3:56
  Speaker 9: typically standard depreciation years for a vehicle is seven years. However,
• 4:04
  Speaker 9: there's this thing called bonus appreciation that Trump put that
• 4:08
  Speaker 9: Trump pretty much wrote into his tax code, where for
• 4:13
  Speaker 9: vehicles that are less than six thousand pounds, you the
• 4:17
  Speaker 9: first year you get to the duck eighteen thousand dollars right,
• 4:21
  Speaker 9: the second year, you get to depreciate sixteen thousand, and
• 4:25
  Speaker 9: then the year after that you get to the the duck.
• 4:28
  Speaker 10: Ninety six hundred.
• 4:30
  Speaker 9: Right in year three, then every year after that you
• 4:33
  Speaker 9: get to the duck five thousand, seven hundred and sixty
• 4:36
  Speaker 9: dollars for each year intil the value of your asset
• 4:38
  Speaker 9: has been pretty much fully depreciated, right, meaning that you've
• 4:42
  Speaker 9: captured the full cost of your vehicle. Now, if your
• 4:46
  Speaker 9: vehicle is more than six thousand pounds, you get to
• 4:49
  Speaker 9: the duck one hundred percent of the vehicle, right. And
• 4:52
  Speaker 9: why that is so important is because sometimes people need
• 4:56
  Speaker 9: those deductions.
• 4:57
  Speaker 10: Right.
• 4:58
  Speaker 9: You may say, let's I purchased this vehicle. It's over
• 5:02
  Speaker 9: six thousand pounds. I need those write offs, right, So
• 5:05
  Speaker 9: instead of writing it off over years, you get to
• 5:08
  Speaker 9: write it off one hundred percent.
• 5:10
  Speaker 10: In that year.
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  Speaker 9: The good thing about bonus appreciation you can choose to
• 5:13
  Speaker 9: take it. You can choose not to. So let's just say, hypothetically,
• 5:17
  Speaker 9: if you were saying, you know what my vehicle I
• 5:20
  Speaker 9: want to you know, I don't want to take advantage
• 5:23
  Speaker 9: of bonus appreciation, right, you will just write it off
• 5:27
  Speaker 9: over years.
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  Speaker 10: Over Let's say those seven years.
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  Speaker 9: And why that's important is because in like tax planning sessions,
• 5:34
  Speaker 9: we get to make those decisions.
• 5:36
  Speaker 10: Right.
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  Speaker 9: So Rashaw talked about tax planning where I sit down
• 5:40
  Speaker 9: with my clients and I kind of find out everything
• 5:42
  Speaker 9: that's going on, and then we get to make the
• 5:44
  Speaker 9: decision on saying, okay, if you finance, okay, should we
• 5:48
  Speaker 9: take advantage of bonus appreciation? Is your vehicle over six
• 5:52
  Speaker 9: thousand pounds is it not? And how we can treat
• 5:55
  Speaker 9: it right. Another option is leasing your vehicle. So when
• 5:59
  Speaker 9: you lease your vehicle, you get to write one of
• 6:03
  Speaker 9: the least payment off. Right, It's like any other expense
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  Speaker 9: that you are.
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  Speaker 10: Incurring on a vehicle.
• 6:08
  Speaker 9: Keep in mind on the fine if you're financing as
• 6:11
  Speaker 9: well as leasing, you are also able to take deductions
• 6:14
  Speaker 9: such as gas, insurance payments, registration, any sort of car washes, tires. Right,
• 6:26
  Speaker 9: you get to write those things off. And I wanted
• 6:29
  Speaker 9: to mention those things because then you have the mileage
• 6:32
  Speaker 9: method that people are very familiar with. So with the
• 6:35
  Speaker 9: mileage method, you pretty much it's kind of like a
• 6:38
  Speaker 9: quick calculation for I'm sorry, I keep seeing people ask
• 6:43
  Speaker 9: about pounds, so I can't necessarily tell you how many
• 6:46
  Speaker 9: pounds your vehicles are, but I'm sure if you google
• 6:49
  Speaker 9: it you will find out how much of your co waves.
• 6:53
  Speaker 9: So now, in regards to the mileage method, that's pretty
• 6:58
  Speaker 9: much the irs quick wave of saying, you know what,
• 7:01
  Speaker 9: if you don't want to keep track, and you don't
• 7:03
  Speaker 9: want to write off your payments, or even if you
• 7:05
  Speaker 9: drive a lot, and it may be to your best interest,
• 7:08
  Speaker 9: instead of writing off the least payments or depreciating your vehicle,
• 7:13
  Speaker 9: will just do the mileage method. So what that means
• 7:16
  Speaker 9: is you just track your mouths from all of your
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  Speaker 9: business activities throughout the year, and then you will multiply. However,
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  Speaker 9: mini miles that is for twenty nineteen was fifty eight
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  Speaker 9: cents per mile. Now, the thing that people always make
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  Speaker 9: the mistake of when it comes to the mileage method
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  Speaker 9: is that they feel they can take the mileage method
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  Speaker 9: and then also deduct gas and insurance and all of
• 7:40
  Speaker 9: those things on top of it.
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  Speaker 10: But you can't the idea behind the mileage method.
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  Speaker 9: It's kind of like a quick calculation for you to say,
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  Speaker 9: you know what, I'm just going to write off my
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  Speaker 9: vehicle this way. Something to note is that you have
• 7:56
  Speaker 9: to either take advantage of the mileage method or the
• 7:59
  Speaker 9: actual right. So the actual method is writing off your
• 8:02
  Speaker 9: actual expenses such as you know, like your leash, your insurance,
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  Speaker 9: your gas, all of those things, or you use the
• 8:08
  Speaker 9: mileage method, right, which is a quick calculation.
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  Speaker 10: So I don't think I have any more to really, no.
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  Speaker 11: Real quick because as I'm listening to you say, and
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  Speaker 11: from a CPA standpoint, is it best that like if
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  Speaker 11: I have a credit card, I allocate that credit card
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  Speaker 11: specifically to all those things, right, So that makes it
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  Speaker 11: easier to make for bookkeeping.
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  Speaker 6: Be a good idea because when.
• 8:32
  Speaker 9: We're doing your bookkeeping, well, we'll be able to allocate
• 8:35
  Speaker 9: that what you guys should have. And and I don't know,
• 8:38
  Speaker 9: I'm gonna put this out there.
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  Speaker 10: I don't know if you guys have it.
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  Speaker 9: But everyone who has a business, and you guys have
• 8:43
  Speaker 9: business credit, everyone should have a gas card, right, So
• 8:46
  Speaker 9: if you guys don't have gas cards, you should get
• 8:48
  Speaker 9: gas cards.
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  Speaker 4: Car a card for gasoline, yes.
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  Speaker 9: But it's strictly under your business name, so they go
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  Speaker 9: they base it off of your business credit and that's
• 8:59
  Speaker 9: how you qualify for the the the gas cards.
• 9:04
  Speaker 10: So like I have VP Shell has gas cards.
• 9:08
  Speaker 9: There's a few different there's a few different gas companies
• 9:12
  Speaker 9: that issue gas cards. But that is a really good
• 9:16
  Speaker 9: way because you know that that card is specifically for gas.
• 9:21
  Speaker 9: There's usually like you'll get a like reduced rates, and
• 9:26
  Speaker 9: then it's a really good way to just kind of
• 9:28
  Speaker 9: keep track of it and build your business credit at
• 9:30
  Speaker 9: the same time.
• 9:32
  Speaker 10: So that is that's really good.
• 9:34
  Speaker 5: I didn't even know about the gas card. I learned something.
• 9:37
  Speaker 5: I just learned something just now on Friday. Learn you
• 9:42
  Speaker 5: learned something every day, You learned something every day. So
• 9:45
  Speaker 5: so you shouldn't be getting gas because like right now
• 9:47
  Speaker 5: I'm getting gas it's on my regular credit card.
• 9:49
  Speaker 4: I shouldn't be doing that.
• 9:50
  Speaker 9: Everything should be under your business name. And that's something
• 9:54
  Speaker 9: very important. So when you say under your under your
• 9:56
  Speaker 9: credit card, is it your personal credit card or business
• 9:59
  Speaker 9: credit card?
• 10:00
  Speaker 4: The gas is my personal credit card.
• 10:02
  Speaker 10: Personal, So yeah, you need a business credit card.
• 10:04
  Speaker 9: So it should either be under your business gas card
• 10:07
  Speaker 9: or your business credit card. And I'm glad that you
• 10:10
  Speaker 9: said that because that is the number one struggle that
• 10:12
  Speaker 9: I have with business owners is that we co mingle
• 10:17
  Speaker 9: our funds. Right, we take our personal funds our personal
• 10:21
  Speaker 9: credit and we pay for things on the business side,
• 10:24
  Speaker 9: and we have to start looking and treating our businesses
• 10:28
  Speaker 9: like separate people, right like you.
• 10:30
  Speaker 10: Would never come and pay my bills. I would never
• 10:32
  Speaker 10: come and pay your bills.
• 10:35
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• 10:36
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• 10:39
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• 13:26
  Speaker 9: Hey, and you just have to kind of look at
• 13:27
  Speaker 9: your entity like that as well. Right, Like your entity
• 13:30
  Speaker 9: has their own has its own legal name, It has
• 13:35
  Speaker 9: its own EI in number that acts as a Social
• 13:37
  Speaker 9: Security number. Right, So you definitely should not be paying
• 13:41
  Speaker 9: for your gas now that you have the car under
• 13:44
  Speaker 9: your business you should not be paying for your gas
• 13:46
  Speaker 9: under your personal car.
• 13:49
  Speaker 10: Okay, So I'm happy that you said that.
• 13:52
  Speaker 6: Noted noted, I appreciate that.
• 13:54
  Speaker 5: So I should be paying for it for either a
• 13:55
  Speaker 5: business credit card or a business debit card. Yes, about
• 14:00
  Speaker 5: any other expenses that might come with the car. Everything
• 14:02
  Speaker 5: should be game.
• 14:03
  Speaker 9: It should be under your business. That car now belongs
• 14:06
  Speaker 9: to your business. So look at it as though, like
• 14:09
  Speaker 9: my car, right, Like if I needed tires, you wouldn't
• 14:12
  Speaker 9: come and be like, you know what, I'm gonna pay
• 14:14
  Speaker 9: for that.
• 14:14
  Speaker 10: That's kind of like what you're doing.
• 14:16
  Speaker 9: I mean, unless you just wanted to give me, like
• 14:18
  Speaker 9: be nice and generous. But you know, ideally, that's how
• 14:25
  Speaker 9: I like to explain it to people. You know, you
• 14:27
  Speaker 9: just have to separate everything out that that car is
• 14:30
  Speaker 9: not your car. That car is the business car. So
• 14:34
  Speaker 9: you want to take care of all of the expenses
• 14:37
  Speaker 9: underneath the business maintenance, you know, car registration, inspection, everything
• 14:44
  Speaker 9: relating to the car should be under the business name.
• 14:49
  Speaker 6: Got it, got it, got it?
• 14:51
  Speaker 5: And yeah, So the six thousand rule, the range rovers
• 14:56
  Speaker 5: ranged from forty pounds to five thousand, seven hundred and
• 15:01
  Speaker 5: forty five pounds, So the range Rovere is just underneath
• 15:03
  Speaker 5: six thousand pounds. So that's why we we did the
• 15:08
  Speaker 5: what we do, we're doing that, we're doing standard actual.
• 15:11
  Speaker 9: You're doing actual, right, you guys are going to do
• 15:14
  Speaker 9: actual and you're going to write off your payment.
• 15:17
  Speaker 5: Right, So that's why we did actual But what we
• 15:19
  Speaker 5: what we are using the six thousand pound rule for
• 15:22
  Speaker 5: is our truck, big truck, the big truck, not the
• 15:26
  Speaker 5: range rope.
• 15:27
  Speaker 6: Not that truck, the real truck.
• 15:28
  Speaker 10: The truck is.
• 15:31
  Speaker 4: Eighteen wheeler. So yeah, you want to talk about that.
• 15:34
  Speaker 9: Yes, So that is definitely a really good perk for
• 15:40
  Speaker 9: my people that get into trucking where you are able
• 15:44
  Speaker 9: to write off one hundred of the vehicle costs.
• 15:48
  Speaker 10: So again, you may need starting up that business.
• 15:52
  Speaker 9: You may need to write that, you know, write that
• 15:54
  Speaker 9: vehicle off one hundred percent in that year. But again,
• 15:57
  Speaker 9: let's say if we sat down and we were like,
• 16:00
  Speaker 9: you know what, if we kind of take the entire
• 16:03
  Speaker 9: cost of the vehicle, that may put us in a negative.
• 16:06
  Speaker 9: Depending on what you're trying to do. You may try
• 16:08
  Speaker 9: to qualify for a home. You may be trying to
• 16:10
  Speaker 9: go for a loan, right, You may not want your
• 16:13
  Speaker 9: even though when they do loans they add back depreciation,
• 16:17
  Speaker 9: but you may not want to exhaust all of.
• 16:20
  Speaker 10: That all of that expense for twenty twenty.
• 16:24
  Speaker 9: You may want to kind of keep it on the
• 16:26
  Speaker 9: book so that you can exhaust it over time, right,
• 16:29
  Speaker 9: and that is what's extremely important, and that's why it's
• 16:33
  Speaker 9: important to.
• 16:33
  Speaker 10: Have these conversations. Right.
• 16:35
  Speaker 9: So, there's a couple things that I pointed out so
• 16:37
  Speaker 9: far that you need to have the conversation. You need
• 16:39
  Speaker 9: to understand if you're going to do the actual method
• 16:41
  Speaker 9: or the knowledge method. You also need to understand if
• 16:44
  Speaker 9: you're going to take advantage of bonus of depreciation or
• 16:47
  Speaker 9: you're not right. And so those conversations have to be had,
• 16:51
  Speaker 9: and they have to be had ideally before the year
• 16:54
  Speaker 9: is over.
• 16:55
  Speaker 10: Ray.
• 16:55
  Speaker 9: I have so many clients that I engage and they're like, yeah,
• 16:59
  Speaker 9: only time I talk to my accountant.
• 17:00
  Speaker 10: Is January through April.
• 17:02
  Speaker 9: But now that you guys have businesses, you have trucking companies,
• 17:06
  Speaker 9: you real estate, whatever it is, you can't wait until
• 17:10
  Speaker 9: the end of I mean the next year to talk
• 17:13
  Speaker 9: about taxes.
• 17:16
  Speaker 4: It's a fact. It's extremely important.
• 17:19
  Speaker 5: And I feel like there's so much stuff that people
• 17:23
  Speaker 5: don't know, like you know what I'm saying. It's like
• 17:25
  Speaker 5: even I didn't know about that the gas card. And
• 17:30
  Speaker 5: I'm a financial advisor, so there's so much information out there,
• 17:34
  Speaker 5: and it's like, if you're not properly educated, you can
• 17:36
  Speaker 5: make mistakes, and like I said, this is it's a
• 17:39
  Speaker 5: lot easier than I thought it was going to be.
• 17:41
  Speaker 5: All you need is the EI in number. You need
• 17:43
  Speaker 5: a business name, so when you when you when you
• 17:45
  Speaker 5: get the car, you get them, you give them that information.
• 17:48
  Speaker 6: I don't think you need the articles of operation.
• 17:50
  Speaker 4: The articles of operation, your address that you incorporated business with.
• 17:53
  Speaker 5: And then if the business is like under ten years,
• 17:56
  Speaker 5: I don't think you could get it just solely on
• 17:58
  Speaker 5: your business. So you have to like be a personal guaranteur, guarantee, whatever.
• 18:03
  Speaker 6: But even that is good to know.
• 18:05
  Speaker 7: So like it's good to know that to have good
• 18:06
  Speaker 7: credit too, right, because if your credit is not great.
• 18:08
  Speaker 6: Then you can't be the personal yeah, for your own call.
• 18:11
  Speaker 5: So so they run like your personal credit, but it's
• 18:14
  Speaker 5: under your business name. So the business, the businesses the
• 18:18
  Speaker 5: cars under the business names, but they run your personal credits.
• 18:22
  Speaker 4: And it's a vibe.
• 18:26
  Speaker 9: Like knowing that that car, like knowing that my car
• 18:29
  Speaker 9: belongs to my business.
• 18:31
  Speaker 10: It just I don't know, it feels better.
• 18:33
  Speaker 9: But just to kind of piggyback for what you guys
• 18:36
  Speaker 9: were saying, it's really important. One, Yes, your credit needs
• 18:39
  Speaker 9: to be in shape, right, you have to have your
• 18:42
  Speaker 9: credit together, but to just kind of go through the
• 18:45
  Speaker 9: ways that you can qualify for a car loan. One
• 18:49
  Speaker 9: is completely outright purchasing it through your business name. However,
• 18:53
  Speaker 9: you're not going to be able to outright purchase it
• 18:55
  Speaker 9: under your business name if one, you don't have established
• 18:57
  Speaker 9: credit or you've never had any big loans, right. So
• 19:03
  Speaker 9: for me, that was the scenario where I had some
• 19:07
  Speaker 9: business credit, I had the taxes, right, so they should
• 19:11
  Speaker 9: be asking for taxes. They ask for your bank statements, right,
• 19:14
  Speaker 9: because ideally, just how you need to qualify for the loan,
• 19:17
  Speaker 9: they want to see what's going on on your business
• 19:19
  Speaker 9: in so you have to show them bank statements.
• 19:21
  Speaker 10: You have to show them tax returns, but.
• 19:25
  Speaker 9: That may not be enough even if you have the
• 19:27
  Speaker 9: income side, because what they may want to say is, Okay,
• 19:31
  Speaker 9: we can't really trust you to give you this big
• 19:34
  Speaker 9: loan because you've never had a loan exclusively in your
• 19:37
  Speaker 9: business name. So that's when you, as the individual, have
• 19:41
  Speaker 9: to come in and back the business, right, and that
• 19:43
  Speaker 9: can be done in two ways.
• 19:45
  Speaker 10: You can either come in as a co signer, which
• 19:47
  Speaker 10: you guys were just talking about.
• 19:48
  Speaker 9: Or a co applicant, right and so those are two
• 19:52
  Speaker 9: different things, Like I have to I went in as
• 19:54
  Speaker 9: a co applicant. I'm not sure if you guys went
• 19:56
  Speaker 9: in as co signers or co applicants, because it's kind
• 19:59
  Speaker 9: of like a The difference is that a co signer
• 20:02
  Speaker 9: like it, it doesn't show up on your personal credit, right,
• 20:07
  Speaker 9: but the co applicant it does show up, right, It
• 20:09
  Speaker 9: shows up on my personal credit because it's almost like
• 20:12
  Speaker 9: we went me and my business, we went into the
• 20:14
  Speaker 9: loan together. So that's why it's showing up on my
• 20:17
  Speaker 9: business side as well as my personal side. So I
• 20:21
  Speaker 9: just wanted to point that out that there are you know,
• 20:24
  Speaker 9: that's also another way as well that you know you
• 20:28
  Speaker 9: will qualify. But again that's kind of more of a
• 20:31
  Speaker 9: lending thing. From an accounting side, you definitely got to
• 20:34
  Speaker 9: make sure that you know your taxes are completed. You
• 20:39
  Speaker 9: have to make sure that it is a situation where
• 20:43
  Speaker 9: you know they some lenders.
• 20:45
  Speaker 10: May request a profit and laws statement, i e. You'll
• 20:47
  Speaker 10: need to make sure that your bookkeeping is in place,
• 20:50
  Speaker 10: which a.
• 20:50
  Speaker 9: Lot of business owners, that's like the first thing that
• 20:52
  Speaker 9: they neglect is there is their bookkeeping. So just being
• 20:58
  Speaker 9: financially set so that you can position yourself to not
• 21:03
  Speaker 9: only stave on taxes but like really build your business credit.
• 21:08
  Speaker 5: All right, we got we got a few questions for you,
• 21:10
  Speaker 5: miss business. But before we go to the questions, everybody
• 21:13
  Speaker 5: on YouTube, if you could be so kind to like
• 21:16
  Speaker 5: hit the like.
• 21:16
  Speaker 4: Button, greatly appreciate it.
• 21:18
  Speaker 5: And for people that might just be tuned into YouTube
• 21:20
  Speaker 5: that might not know what's going on here. So, as
• 21:23
  Speaker 5: I said, Eyo University's our educational platform. So we have
• 21:27
  Speaker 5: seventy archived classes, and then we have weekly classes every
• 21:30
  Speaker 5: single week on different topics from different presenters, everything from
• 21:33
  Speaker 5: how to start a marijuana business to car insurance to
• 21:36
  Speaker 5: real estate taxes, the taxes everything. And then we have
• 21:40
  Speaker 5: monthly financial planning calls with me. We have biweekly real
• 21:43
  Speaker 5: estate calls with MG the mortgage guy. We have book
• 21:46
  Speaker 5: club ran by you, Movie Club ran by you, private
• 21:49
  Speaker 5: Facebook group. So it's the whole community. It's not an
• 21:51
  Speaker 5: investment club, it's not an investment tips. It's the actual
• 21:55
  Speaker 5: university where you learn. And we're going to actually open
• 21:57
  Speaker 5: our trade department God willing and twenty twenty one with
• 22:00
  Speaker 5: the hvac and like plumbing and stuff like that.
• 22:03
  Speaker 4: To try to see people that kills. Skills. Skills is
• 22:06
  Speaker 4: very important. Skills is very important.
• 22:07
  Speaker 5: So once a month we do it what we call
• 22:09
  Speaker 5: open enrollment to just like open it up to the
• 22:11
  Speaker 5: public and then just you know, show it and you can,
• 22:14
  Speaker 5: you know, see for yourself. So right now, for Black
• 22:16
  Speaker 5: Friday to the end of Black Friday, we're running a
• 22:18
  Speaker 5: fifty percent off sale on an annual membership, which is
• 22:22
  Speaker 5: three hundred and thirty three dollars like that, Yeah, for
• 22:25
  Speaker 5: the year, three hundred and thirty dollars for years.
• 22:27
  Speaker 7: Like I know, there's a bunch of people that's like
• 22:29
  Speaker 7: waiting for nine o'clock Pso this is lessing.
• 22:31
  Speaker 6: In P five.
• 22:32
  Speaker 5: No, that's it's close to this less than that. I'm
• 22:34
  Speaker 5: gonna put the link inhead. The link is also in
• 22:36
  Speaker 5: the description, so if you want to if you want
• 22:38
  Speaker 5: to do it, the code, the code is e y
• 22:41
  Speaker 5: L fifty and you go to Eyo University dot com
• 22:44
  Speaker 5: and you get fifty percent off a couple hundred dollars
• 22:47
  Speaker 5: less less than a night out in uh Atlanta. That's
• 22:49
  Speaker 5: the only place. Atlanta is the only place that's open.
• 22:51
  Speaker 5: So that's the only thing I could really say. That's
• 22:53
  Speaker 5: a big ain't no other place open. But uh yeah,
• 22:56
  Speaker 5: part of Eyo University is that we get question and answers. Yeah,
• 23:00
  Speaker 5: market Mondays is kind of like a case study and
• 23:02
  Speaker 5: that you get to But this is what we do
• 23:04
  Speaker 5: every single week where we bring an expert in the
• 23:06
  Speaker 5: field and then people get to ask them questions.
• 23:10
  Speaker 2: My graduates from my school being forced bad drop bag drop,
• 23:16
  Speaker 2: Mike drop bad, drop bag drops.
• 23:30
  Speaker 1: Coach, the energy out there felt different. What changed for
• 23:33
  Speaker 1: the team today?
• 23:34
  Speaker 2: It was the new game day scratches from the California
• 23:36
  Speaker 2: Lottery players.
• 23:37
  Speaker 6: Everything.
• 23:38
  Speaker 2: Those games sent the team's energy through the roof.
• 23:40
  Speaker 1: Are you saying it was the off field play that
• 23:42
  Speaker 1: made the difference on the field.
• 23:43
  Speaker 2: Hey, little play makes your day, and today it made
• 23:46
  Speaker 2: the game. That's all for now, Coach.
• 23:48
  Speaker 3: One more question played the new Los Angeles Chargers, San
• 23:51
  Speaker 3: Francisco forty nine Ers and Los Angeles Rams scratchers from
• 23:54
  Speaker 3: the California Lottery. A little play can make your day. Peacely, responsibly.
• 23:58
  Speaker 3: It must be eighteen years or older to purchase or
• 24:00
  Speaker 3: flame